HELP !!! XRP is dumping more than other alts. What should I do??
So BTC is dumping, and it comes as no surprise, because we saw in the last weeks that it was printing a bearish rising wedge on falling volume and on
top a strong bearish divergence in the RSI on 1d-1w timeframes.
XRP now is dumping stronger than other alts. What is going on? Why? Will this be the end of XRP? Will the XRP bullrun be over now?
Well, we can always look at the past.
XRP likes to do these things. Even in rallies, it always likes to make extreme dumps and dump more than other alts, to make people
feel insecure.
Even in rallies, XRP is a real b*tch.
In early 2017, we can see a similar structure to now.
It started rising slowly at first, and then after the first strong runup, it made some pretty insane dumps, before then continuing even higher.
I assume something similar will happen.
XRP wants to get rid of all the weak hands on the way to the top.
I said it many times before and I will say it again: XRP is the HARDEST and most DIFFICULT coin to hold of all coins.
It is brutal, it wants to crush you, it wants to kick you out, it wants to make you sell.
But: If you are disciplined and strong of mind, you will get insanely rewarded. INSANELY rewarded !
So be patient please :)
I assume that within the next 14-28 days, XRP will resume the uptrend in a quite aggressive and unexpected manner.
By June I think we will see ATH levels for XRP, so 0.0002 levels.
Maybe with luck, like Doge, it might even do a new ATH. If yes, this will bode really well for the final XRPUSD price in late 2021, when BTC hits 200-300k.
Many people won't believe their eyes, what levels XRP might hit, if BTC will really go as high.
So, don't let yourself be discouraged by XRP. XRP is just being the usual b*tch. But we know that game by now. We have grown accustomed to it, and we shall hold XRP until the very end of this bull cycle!
(I will say of course exactly when I'm going to sell all my XRP, but this time is still at least 4-6 months away).
top a strong bearish divergence in the RSI on 1d-1w timeframes.
XRP now is dumping stronger than other alts. What is going on? Why? Will this be the end of XRP? Will the XRP bullrun be over now?
Well, we can always look at the past.
XRP likes to do these things. Even in rallies, it always likes to make extreme dumps and dump more than other alts, to make people
feel insecure.
Even in rallies, XRP is a real b*tch.
In early 2017, we can see a similar structure to now.
It started rising slowly at first, and then after the first strong runup, it made some pretty insane dumps, before then continuing even higher.
I assume something similar will happen.
XRP wants to get rid of all the weak hands on the way to the top.
I said it many times before and I will say it again: XRP is the HARDEST and most DIFFICULT coin to hold of all coins.
It is brutal, it wants to crush you, it wants to kick you out, it wants to make you sell.
But: If you are disciplined and strong of mind, you will get insanely rewarded. INSANELY rewarded !
So be patient please :)
I assume that within the next 14-28 days, XRP will resume the uptrend in a quite aggressive and unexpected manner.
By June I think we will see ATH levels for XRP, so 0.0002 levels.
Maybe with luck, like Doge, it might even do a new ATH. If yes, this will bode really well for the final XRPUSD price in late 2021, when BTC hits 200-300k.
Many people won't believe their eyes, what levels XRP might hit, if BTC will really go as high.
So, don't let yourself be discouraged by XRP. XRP is just being the usual b*tch. But we know that game by now. We have grown accustomed to it, and we shall hold XRP until the very end of this bull cycle!
(I will say of course exactly when I'm going to sell all my XRP, but this time is still at least 4-6 months away).
Comment:
When in doubt, zoom out :)
Comment:
Since many people asked me how I arrive at the XRP target price, I will post the logic here:
XRP in the previous rallies surpassed ETH in marketcap twice and was Nr.2 on coinmarketcap with about 50% of bitcoin's marketcap.
If we make the same assumption and say bitcoin peaks at 200k, this would be about 4 trillion marketcap for BTC. 50% of that is 2 trillion for XRP, so a price of 48 USD.
Now, should bitcoin hit 300k, as PlanB thinks according to the stock to flow model, we are looking at BTC 6 trillion marketcap and XRP at the absolute top of 3 trillion, thus a price of 72 USD per XRP.
You see therefore that the maximum XRP price will be strongly dependent on how high BTC will go.
BTC top 100k => XRP top 24 USD.
BTC top 200k => XRP top 48 USD.
BTC top 300k => XRP top 72 USD.
Also, keep in mind that marketcaps in crypto don't have a lot of meaning, since only a fraction of all coins are being traded on the exchanges. It therefore requires a lot less money to pump a coin from say 1 trillion to 2 trillion marketcap. This doesn't require 1 trillion USD, but maybe 5% of that money.
These are some plausibility assumptions using data and my own observations from the previous bullruns, and I have been observing them and using this mechanism since 2013.
XRP in the previous rallies surpassed ETH in marketcap twice and was Nr.2 on coinmarketcap with about 50% of bitcoin's marketcap.
If we make the same assumption and say bitcoin peaks at 200k, this would be about 4 trillion marketcap for BTC. 50% of that is 2 trillion for XRP, so a price of 48 USD.
Now, should bitcoin hit 300k, as PlanB thinks according to the stock to flow model, we are looking at BTC 6 trillion marketcap and XRP at the absolute top of 3 trillion, thus a price of 72 USD per XRP.
You see therefore that the maximum XRP price will be strongly dependent on how high BTC will go.
BTC top 100k => XRP top 24 USD.
BTC top 200k => XRP top 48 USD.
BTC top 300k => XRP top 72 USD.
Also, keep in mind that marketcaps in crypto don't have a lot of meaning, since only a fraction of all coins are being traded on the exchanges. It therefore requires a lot less money to pump a coin from say 1 trillion to 2 trillion marketcap. This doesn't require 1 trillion USD, but maybe 5% of that money.
These are some plausibility assumptions using data and my own observations from the previous bullruns, and I have been observing them and using this mechanism since 2013.
Comment:
Update:
Ah nice, a textbook shakeout. Too many newbs bought in, who are now very panicky, really happy to press the sell button any time that BTC looks weak.
Let's compare this to the early 2017 retrace in XRPBTC:
You see that compared to that, this retrace here is really mild, only 50%, whereas in 2017 it retraced more than 70% !
As soon as BTC hits the target at around 42k, XRP will resume the climb with even more ferocity than before.
Ah nice, a textbook shakeout. Too many newbs bought in, who are now very panicky, really happy to press the sell button any time that BTC looks weak.
Let's compare this to the early 2017 retrace in XRPBTC:
You see that compared to that, this retrace here is really mild, only 50%, whereas in 2017 it retraced more than 70% !
As soon as BTC hits the target at around 42k, XRP will resume the climb with even more ferocity than before.
Comment:
It will start soon, I think next week:
Comment:
The wedge in XRPBTC has become a bit longer due to the recent dump, but it doesn't change the overall breakout picture:
A bit more patience.
A bit more patience.
Comment:
This is looking like the breakout we wanted :)
We should see some really nice pumping now for a few weeks.
We should see some really nice pumping now for a few weeks.
Comment:
So what did this latest BTC dump mean for XRP?
Actually not much, it was a heatlthy shakeout in all of crypto.
In XRP also, we now have more diamond hands, and less panicky newbies.
Smart money bought this dip here.
Longterm, the XRPUSD chart looks insanely strong:
Actually not much, it was a heatlthy shakeout in all of crypto.
In XRP also, we now have more diamond hands, and less panicky newbies.
Smart money bought this dip here.
Longterm, the XRPUSD chart looks insanely strong: